Top 54 Inventory Management Software

2022's Best 54 Inventory Management Systems

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1. Epicor WMS

  • Best for: Small, medium and large size businesses
  • Price: starts at $55 per user/month
  • Mar 09, 2022
Compare Epicor WMS Vs. Epicor WMS

Kinetic WMS is a cloud-based and on premise enterprise resource management system that incorporates warehouse management & supply chain management tools.


2. Passport Inventory

  • Best for: Small, medium and large size businesses
  • Price: starts at $45 per user/year
  • Mar 13, 2022
Compare Passport Inventory Vs. Epicor WMS

Passport Inventory software is an inventory management solution that offers both on-premise and cloud-hosted solutions. In addition, this software helps its users to control and manage the shipping & receiving processes in an organization.


3. IntelliTrack StratusVMI

  • Best for: Small, medium and large size businesses
  • Price: starts at $75 per user/month
  • Aug 26, 2022
Compare IntelliTrack StratusVMI Vs. Epicor WMS

IntelliTrack StratusVMI is a cloud-based inventory management software for small, medium, and large businesses. Its key features such as global accessibility, inventory management, bar code technology, and detailed reporting help operation managers keep their warehouse meet the demands of their cust...


4. Blue Link Elite

  • Best for: Start up, Small business, Medium business
  • Price: starts at $500 per license
  • Mar 22, 2022
Compare Blue Link Elite Vs. Epicor WMS

Blue Link ERP is an inventory and distribution management software for small companies. It offers business solutions including but not limited to real-time inventory and accounting, order entry, B2B and B2C eCommerce, POS, EDI integration, CRM, and more.


5. Camstar

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 13, 2022
Compare Camstar Vs. Epicor WMS

Siemens Opcenter is a manufacturing execution system (MES) for small to large businesses. Its key features include advanced planning and scheduling, manufacturing execution, quality management, manufacturing intelligence and performance, and research, development and laboratory.


6. HubLogix

  • Best for: Small, medium and large size businesses
  • Price: starts at $249 per user/month
  • May 22, 2022
Compare HubLogix Vs. Epicor WMS

HubLogix is an internet-based inventory management software that assists online sellers to carry out logistics activities.


7. 3PLink WMS

  • Best for: SMBs
  • Price: starts at $250 per user/month
  • Apr 08, 2022
Compare 3PLink WMS Vs. Epicor WMS

Excalibur WMS is an inventory and warehouse management solution for small and medium third-party logistics or 3PL. Its key features include barcoding/RFID, CRM, 3PL management, cross-docking, inventory, shipping, supplier, and fleet management.


8. RFgen Inventory

  • Best for: Small, medium and large size businesses
  • Price:
  • Apr 30, 2022
Compare RFgen Inventory Vs. Epicor WMS

RFgen Inventory is a cloud-based inventory management software that enables its users to manage supplier onboarding and overhaul their manual data collection process.


9. DEAR Inventory

  • Best for: Small businesses and start ups
  • Price: starts at $325 per month
  • May 18, 2022
Compare DEAR Inventory Vs. Epicor WMS

DEAR Inventory is a cloud-based inventory and order management that offers complete back-end management. DEAR Inventory aims at helping the small business as well as medium business to streamline and simplify the daily operations by automating inventory and order management.


10. IMS telecom OSS

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 03, 2022
Compare IMS telecom OSS Vs. Epicor WMS

IMS Telecom OSS is a cloud-based inventory management solution designed by VC4 to offer functionalities of registering and managing telecommunications platforms and network. Some of the core IMS specifications include network topology, network equipment, and telecom workflow management solution and ...


Pricing Guide - Inventory Management Software:

Inventory Management Software Pricing

Inventory management software in the market has different pricings; hence, they can be divided into three tiers, starting from the range of $10 to $50, to the more common range of $50 to $150, and the range of $150 to $250+. These prices are set using different methods, some of which are per inventory, per stocking location, per machine, and per user. Regardless of the pricing method, inventory management software is usually billed per month or per year. For example, RunIT Real-time Cloud pricing starts from $258 per month, ParagonERP costs up to $150 per user monthly, and Inflow Inventory pricing sits around $71 monthly for two user accounts.

In addition to this, inventory management software is also priced based on the size of businesses they are targeting. For instance:

  • Small Businesses can expect to pay between $8 to around $50 for an inventory management software, depending on the number of features on the chosen product. For example, Shipstation pricing is at $9 per month, Sortly costs around $39 per month, and eTurns costs up to $40 per month. Also, some products, such as Sortly, have free offerings for small businesses.
  • Medium Businesses can expect to pay prices that fall between $50 and $150 for an Inventory Management software. However, the number of inventories, locations, users, etc., can also influence the software price. For example, Finale Inventory pricing starts from $99 per month, BoxStorm costs around $79 per month, while ParagonERP pricing is priced around $150 per month. Also, some products for medium businesses have one-time fees for perpetual licenses. An example is Acctivate Inventory which costs $5,000 for life-time usage.
  • Large Businesses can expect to pay from $200 upwards for an inventory management software. For example, ShipHero pricing starts from $1,850 per month, RUnit Real-time Cloud from $258 per month, and InfoPlus costs up to $685 per month. However, some vendors may request separate fees for installation and onboarding, depending on the size of the organization.

Inventory management software best of breeds, and their price ranges are as follows:

  • Barcoding Software The prices for barcoding software in the market can be divided into two tiers, starting from $20 to $50, and then $50 to $200. The prices are usually set per user or per assets, depending on the type of package. Billings are usually fixed monthly or yearly. For instance, eCount ERP pricing starts from $55 per month, Zangerine costs up to $199 per user monthly, and EZO Office Inventory pricing starts from $35 per month. Perpetual license can also be bought for some software like Asset Tracking Barcode System which is priced at $995.
  • Inventory Control Scheme Inventory control scheme products can be divided into three tiers, and their price ranges are $20 to $40, $40 to $80, and $80 above. The prices are either set per user, per month or per a number of set inventories per month. For example, MarginPoint Mobile Inventory starts from $89 per month, Arbimed Inventory from $100 per month, and MarketPlace Works from $49 monthly and $249 monthly for premium users.
  • Order Management Software The price ranges for order management software are $20 to $50, $50 to $100, and $100 above. The pricings for order management products are set on per order, per month or per user, per month basis. For example, Orderwerks pricing starts from $100 per month for a number of orders, InsiTV costs up to $25 per user monthly, and Caspio pricing starts from $125 per month.
  • Catalogue Management Software Most catalogue management products in the market are set on a per-user/per-month basis, and the prices range, depending on the package level, are $19 to $48, $48 to $100, and $100 above. For instance, FileStage costs around $99 per month, while Channable starts from around $39 per month based on the size of the project. Additionally, Snappi pricing starts from $20 per month or $0.99 per app usage.
  • Order Entry Software Most order entries in the market have pricings that fall between $26 to $50, and they are usually set on per user, per month or per order, per month basis. However, this is the price range for standard or entry-level offerings; more premium offerings range from $100 to $250 per month. For instance, Handshake costs $39 per user, per month, Blendzi $200 per month, and Handshake $40 per user, per month.

11. Savant WMS

  • Best for: Small, medium and large size businesses
  • Price: starts at $50 per user/month
  • Jun 10, 2022
Compare Savant WMS Vs. Epicor WMS

Savant WMS is both a cloud-based and on-premise warehouse management as well as supply chain solution for the distribution and manufacturing companies.


12. HandiFox Inventory

  • Best for: Small businesses and start ups
  • Price: starts at $39 per month
  • May 14, 2022
Compare HandiFox Inventory Vs. Epicor WMS

Handifox Inventory software is a cloud-based and on-premise mobile inventory control system built for small-midsize businesses that are inventory-based. The solution is also available on Android devices and supports Windows 7, Windows XP, Windows 8, Windows 2000, Windows Vista, and Windows 10 operat...


13. Chondrion Inventory Management

  • Best for: Small businesses and start ups
  • Price: starts at $100 per month
  • May 16, 2022
Compare Chondrion Inventory Management Vs. Epicor WMS

Chondrion Inventory Management is a cloud-based software solution that bandles the automation of buying and selling on a centralized interface. Its integrated Point of Sales automatically synchronizes users product catalogs with popular e-commerce platforms such as Google, eBay, and Amazon.


14. Collaborative Supply Portal

  • Best for: Small, medium and large size businesses
  • Price:
  • May 14, 2022
Compare Collaborative Supply Portal Vs. Epicor WMS

Collaborative Supply Portal (Ultriva software) is an inventory management software designed to streamline the processes involved in supply chain, using its embedded supplier collaboration and supply chain visibility modules.


15. Royal 4 WISE

  • Best for: Small, medium and large size businesses
  • Price:
  • May 17, 2022
Compare Royal 4 WISE Vs. Epicor WMS

Royal 4 Wise is a warehouse management software that is ready to offer a complete warehouse management solution to those who are looking for a vigorous WMS system. The software can be customized according to the needs of each business and the rules can be also defined by users. This flexible solutio...


16. Netstock qPic Plus

  • Best for: Small, medium and large size businesses
  • Price: starts at $399 per user/month
  • Jun 30, 2022
Compare Netstock qPic Plus Vs. Epicor WMS

Netstock qPic Plus is a carousel inventory management software for inventory managers to manage all stock and warehouse activities, increase order throughput, manage store updates, and manage order inventory.


17. JDA software

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 24, 2022
Compare JDA software Vs. Epicor WMS

JDA software is a supply chain and inventory management software solution for your business. The software was designed by JDA Software Group, Inc., headquartered in Arizona, United States. It incorporates planning, management, and accounting services to streamline the supply chain of a business. 


18. Snapfulfil

  • Best for: SMBs
  • Price: starts at $4,000 per month
  • Jul 16, 2022
Compare Snapfulfil Vs. Epicor WMS

Snapfulfil is a cloud-based warehouse management system that offers a complete WMS solution with required Barcode/RF scanning equipment and refined functionality. The software can be deployed in cloud-based or Software as a Service (SaaS) model for easy access by all users. Snapfulfil can improve pi...


19. Vanguard Inventory Optimization

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 23, 2022
Compare Vanguard Inventory Optimization Vs. Epicor WMS

Vanguard Inventory Optimization is an inventory management software designed to help organizations reduce risks by generating forecasts and decisions, automate supply chain planning, improve team collaborations, and instigate unified decision-making.


20. MRP Manager

  • Best for: Small, medium and large size businesses
  • Price: starts at $399 per license
  • May 08, 2022
Compare MRP Manager Vs. Epicor WMS

MRP Manager is an on-premise materials requirements planning (MRP) and inventory control solution designed for custom manufacturers and engineering small and midsize businesses across multiple industry verticals. The solution core features include inventory control, work order management and invoici...


21. SIMMS Inventory management software

  • Best for: SMBs
  • Price: starts at $900 per license
  • Feb 28, 2022
Compare SIMMS Inventory management software Vs. Epicor WMS

SIMMS Inventory Management Software is an inventory management and accounting software that supports the business process from purchasing, sales and order fulfillment to accounting and data collection. SIMMS (Stand-alone Inventory Management Modular Software) can help users to handle all their day-t...


22. Kn{owl}edge

  • Best for: Small businesses and start ups
  • Price: starts at $120 per user/month
  • Sep 29, 2022
Compare Kn{owl}edge Vs. Epicor WMS

Kn{owl}edge is a cloud-enabled Inventory Management software gives the user the opportunity to manage the inventory of the organization by utilizing customizable tools and functionalities.


23. Active Series

  • Best for: Small, medium and large size businesses
  • Price: starts at $100,000 per license
  • Sep 28, 2022
Compare Active Series Vs. Epicor WMS

OrderActive is an inventory management software that provides a single, intelligible view of customers and inventory and scalable order automation that helps reduce overhead.


24. Cadence Warehouse Management

  • Best for: SMBs
  • Price: starts at $65,000 per license
  • Oct 03, 2022
Compare Cadence Warehouse Management Vs. Epicor WMS

Cadence Warehouse Management is a warehouse management software that can provide a complete solution for fulfilling order management and multiple shipping difficulties. It’s versatility, real-time features and RF based WMS system helps you to complete all the operation more productively and flexibl...


25. Core Edition WMS

  • Best for: Small businesses and start ups
  • Price: starts at $167 per user/month
  • Feb 16, 2022
Compare Core Edition WMS Vs. Epicor WMS

Optimiser Core WMS is a warehouse management solution that can help users to run their warehouse more accurately and efficiently. The software comes with all the core features that we usually expect to see in a WMS solution and it’s easy to add features in this module-structured solution. The softwa...


26. Enterprise WMS and Interchange EDI

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 10, 2022
Compare Enterprise WMS and Interchange EDI Vs. Epicor WMS

Enterprise WMS and Interchange EDI is a warehouse management software solution for your business. The software was designed and launched by Ramp Systems headquartered in Philadelphia, United States. It provides various tools and applications to specifically cater the needs of 3PL industry.


27. AccellosOne Enterprise 3PL

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 05, 2022
Compare AccellosOne Enterprise 3PL Vs. Epicor WMS

AccellosOne Enterprise 3PL is a logistics software that can help users to streamline cold storage and warehouse operations. This system is specifically designed for third party logistics experts by 3PL experts. The software can automate most of the important functions and offers real-time informatio...


28. eSellerHub

  • Best for: Small businesses and start ups
  • Price:
  • Feb 12, 2022
Compare eSellerHub Vs. Epicor WMS

eSellerHub is an award-winning cloud-based Inventory Management software, it is designed to support small and medium size business. eSellerHub received a rating of 2.5 from ITQlick team. The software cost is considered affordable (1.2/5) when compared to alternative solutions.


29. Asset Panda - Inventory Management

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,500 per year
  • Feb 05, 2022
Compare Asset Panda - Inventory Management Vs. Epicor WMS

Asset Panda - Inventory Management is a cloud-based Inventory Management Software that allows users to track equipment inventory as they are moved across locations.


30. Lightspeed Retail POS

  • Best for: Small businesses and start ups
  • Price: starts at $69 per month
  • Feb 10, 2022
Compare Lightspeed Retail POS Vs. Epicor WMS

Lightspeed Retail is a cloud-based Inventory Management Software that enables the user to manage integrated catalogs. It also allows them to makes sales of items, whether they are serialized or bundled.


31. HAL Warehouse Management System

  • Best for: SMBs
  • Price:
  • Mar 21, 2022
Compare HAL Warehouse Management System Vs. Epicor WMS

HAL WMS is a cloud-hosted warehouse management solution that serves both warehousing and production environments. The solution provides users with warehousing functionalities for assets including receiving, put away, label, pick, quality control, production, move, package and ship.


32. DCS Inventory

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 01, 2022
Compare DCS Inventory Vs. Epicor WMS

DCS Inventory is a cloud-based and on-premise inventory management solution ideal for small businesses. It enables the users to manage stock movements, purchases as well as sales using a single integrated package.


33. Nexpart Virtual Inventory

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 21, 2022
Compare Nexpart Virtual Inventory Vs. Epicor WMS

Nexpart Virtual Inventory is a trending cloud-based Inventory Management software, it is designed to support small, medium and large size business. Nexpart Virtual Inventory received a rating of 4.3 from ITQlick team. The software cost is considered average (3.5/5) when compared to other solutions ...


34. Stitch Labs Inventory Management

  • Best for: SMBs
  • Price: starts at $799 per month
  • Feb 21, 2022
Compare Stitch Labs Inventory Management Vs. Epicor WMS

Stitch Labs Inventory Management is a cloud-based Inventory Management software that allows the users to have better control over their organizations inventory and its visibility across all the channels, systems and locations within the organization.


35. CorgiSoft

  • Best for: Small businesses and start ups
  • Price: starts at $499 per license
  • Feb 21, 2022
Compare CorgiSoft Vs. Epicor WMS

CorgiSoft is a growing cloud-based Inventory Management software, it is designed to support small and medium size business. CorgiSoft received a rating of 2.5 from ITQlick team. The software cost is considered affordable (1.5/5) when compared to alternative solutions.


36. Sortly Pro

  • Best for: Small, medium and large size businesses
  • Price: starts at $25 per month
  • Feb 25, 2022
Compare Sortly Pro Vs. Epicor WMS

Sortly Pro is a growing cloud-based Inventory Management software, it is designed to support small, medium and large size business. Sortly Pro received a rating of 4.4 from ITQlick team. The software cost is considered affordable (1/5) when compared to alternative solutions.


37. SurgiCare Inventory

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 25, 2022
Compare SurgiCare Inventory Vs. Epicor WMS

SurgiCare Inventory software is a cloud-based medical inventory solution built to meet the compound materials management needs of surgery centers. The system uses barcodes to help users track inventory, surgical preference cards, and purchase orders across multiple locations.


38. Geneva Business Management Systems (GBMS)

  • Best for: Small businesses and start ups
  • Price:
  • Feb 26, 2022
Compare Geneva Business Management Systems (GBMS) Vs. Epicor WMS

Geneva Business Management Systems (GBMS) provides business management software for the SME market. GBMS includes modules that cover wholesale distribution, warehousing, manufacturing, ecommerce, operations as well as financials. Geneva Systems was founded in 1994 to develop solutions primarily f...


39. Intellitrack Isrp

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $75 per user/month
  • Mar 04, 2022
Compare Intellitrack Isrp Vs. Epicor WMS

Intellitrack Isrp is a growing cloud-based Inventory Management software, it is designed to support small, medium and large size business. Intellitrack Isrp received a rating of 3.7 from ITQlick team. The software cost is considered affordable (2.5/5) when compared to alternative solutions.


40. Red Rock Warehouse Manager

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 04, 2022
Compare Red Rock Warehouse Manager Vs. Epicor WMS

Red Rock Warehouse Manager is an award-winning cloud-based Inventory Management software, it is designed to support small, medium and large size business. Red Rock Warehouse Manager received a rating of 4.4 from ITQlick team. The software cost is considered average (3.6/5) when compared to other so...


41. HighJump Warehouse Advantage

  • Best for: Large business
  • Price:
  • Mar 04, 2022
Compare HighJump Warehouse Advantage Vs. Epicor WMS

HighJump Warehouse Advantage is a comprehensive warehouse management system for your business. It was designed by HighJump Software headquartered in Minnesota, United States. The software aims at regulating all the warehouse tasks with a view to increasing overall operational efficiency.


42. Megaventory

  • Best for: Small businesses and start ups
  • Price: starts at $135 per month
  • Jan 30, 2022
Compare Megaventory Vs. Epicor WMS

Megaventory is a cloud-based Inventory Management Software that allows users to manage their manufacturing operations with powerful tools and functions.


43. BizSlate

  • Best for: Small businesses and start ups
  • Price: starts at $79 per user/month
  • Mar 10, 2022
Compare BizSlate Vs. Epicor WMS

BizSlate is a trending cloud-based Inventory Management software, it is designed to support small and medium size business. BizSlate received a rating of 3.7 from ITQlick team. The software cost is considered affordable (1.3/5) when compared to alternative solutions.


44. S2K Warehouse

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 26, 2022
Compare S2K Warehouse Vs. Epicor WMS

S2K Warehouse is inventory management and an integrated ERP solution for small to large enterprises. Its key features include lot tracking, order management, component tracking, packing, performance reporting, and more to help businesses streamline their operation process.


45. AdvancePro Inventory Management

  • Best for: Small businesses and start ups
  • Price: starts at $85 per user/month
  • Mar 28, 2022
Compare AdvancePro Inventory Management Vs. Epicor WMS

AdvancePro Inventory Management is an inventory control system that can simplify warehouse, buying, selling and shipping operations. The inventory management software offers both administrative and operation features with deployment options of on-premise and web-based. There are more than 200 featur...


46. Warehouse Management Software

  • Best for: Start up, Small business
  • Price: starts at $995 per month
  • Mar 31, 2022
Compare Warehouse Management Software Vs. Epicor WMS

Foxfire WMS is a warehouse and distribution management software solution for your business. The software was designed by Foxfire Technologies, Inc., headquartered in South Carolina, United States. Other than distribution services, it also supervises manufacturing operations of the business.


47. Wasp Inventory Control

  • Best for: Small businesses and start ups
  • Price: starts at $595 per year
  • Apr 04, 2022
Compare Wasp Inventory Control Vs. Epicor WMS

Wasp inventory control is a cloud-based or a self-hosted software that provides a critical, seamless procedure to direct the management of picking, receiving, and ordering of both non-inventory and inventory items.


48. Manhattan Slotting Optimization

  • Best for: Small, medium and large size businesses
  • Price:
  • Apr 11, 2022
Compare Manhattan Slotting Optimization Vs. Epicor WMS

Manhattan Slotting Optimization is a leading cloud-based Inventory Management software, it is designed to support small, medium and large size business. Manhattan Slotting Optimization received a rating of 3.7 from ITQlick team. The software cost is considered affordable (1.7/5) when compared to al...


49. VISCO - Inventory Management

  • Best for: Small businesses and start ups
  • Price: starts at $95 per user/month
  • Apr 14, 2022
Compare VISCO - Inventory Management Vs. Epicor WMS

Visco is inventory management and a cloud-based solution that assists many types of companies in their importation and distribution process. This solution is an integrated system with procurement capabilities, inventory management and warehouse management.


50. irms WMS

  • Best for: Small, medium and large size businesses
  • Price: starts at $40 per month
  • Nov 05, 2022
Compare irms WMS Vs. Epicor WMS

irms WMS is a warehouse, asset, and supply chain management solution for your business. The software was designed by Upp Technology, Inc. headquartered in Illinois, United States. It provides efficient management of warehouse space, shipping time, and inventory visibility. 


51. Syncron Global Inventory Management

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Aug 26, 2022
Compare Syncron Global Inventory Management Vs. Epicor WMS

Created to help manufacturers and distribution companies, Syncron Global Inventory Management is an ERP-independent, process driven framework to quickly enhance client experience and increment in profits that achieves three goals quite decently.   The first benefit is, companies can control a...


52. Accuplus WMS

  • Best for: Small, medium and large size businesses
  • Price:
  • Apr 20, 2022
Compare Accuplus WMS Vs. Epicor WMS

The Accuplus WMS or warehouse management system is the Integrated Distribution Logistics System for the 3rd Party Logistics industry. The software offers users the ability to manage bills of lading, several warehouses, inbound receipts, multiple customers, consignees, products, carriers, rates, and ...


53. RICS - Inventory Management

  • Best for: SMBs
  • Price: starts at $249 per month
  • Apr 25, 2022
Compare RICS - Inventory Management Vs. Epicor WMS

RICS is a cloud-based inventory management solution for accessories retailers, footwear, and apparel-inclined businesses. This POS solution provides an easy to learn, implement and use reporting tools, inventory management and Point of Sale.


54. Productsup

  • Best for: Small, medium and large size businesses
  • Price: starts at $999 per month
  • Apr 26, 2022
Compare Productsup Vs. Epicor WMS

Productsup is a cloud-based and inventory management system that offers a wide range of solutions such as marketplace integration, feed management, product content syndication and vendor/seller onboarding.



A Buyer's Guide to Inventory Management Solutions

Warehouse Inventory System Buyer’s Guide
 
If Sales and Marketing group is in the frontline of operation of most businesses, at the backend is the Warehouse and Inventory team. Warehouse management is an aspect of logistics and supply chain management and its role in every business is to control the movement and storage of materials within a warehouse and process the associated transactions, including shipping, receiving, putaway and picking. Every warehouse is different from another. Perhaps, a warehouse is a planned space for the storage and handling of goods and materials of different shapes, sizes and weights. In many industrial zones, warehouses are operating 24/7.
 
Warehousing and inventory always go together. Inventory management’s function is to track inventory levels, orders, sales and deliveries. A Warehouse Management System (WMS), on the other hand, is a technology consisting of tools that managers and supervisors need in analyzing the stock and creating plans for inventory movement and replenishment. In this Buyer’s Guide, we from ITQlick.com will provide you more information about this automation technology for warehousing and inventory management. New technology trends such as radio-frequency identification and mobile computing will also be discussed in this buyer’s guide as part of our objective to better assist you in finding the right WMS solution for your business.
 
Types
In today’s market situation, a buyer like you who’s looking for a WMS solution might encounter a little bit of confusion when it comes to selecting the right software package for your business. This is because of the overlapping functionalities between Warehouse Management Systems, Enterprise Resource Planning, Distribution Requirements Planning, Transportation Management Systems, Supply Chain Planning, Advanced Planning and Scheduling, and Manufacturing Execution Systems. But we do not want you to arrive on that situation because we are certain that there is a lot differences among these software solutions when it comes to functionality, features, and most of all, areas of application.
It is important to know that WMS solution is there to provide every organization a set of computerized procedures for management of warehouse inventory, space, equipment and people. Overall, WMS has the following functionalities that differentiate it from other systems:
·         Sets standard receiving process to properly handle a shipment when it arrives
·         Receives and returns stock in a warehouse facility
·         Performs modeling and managing of the logical representation of the physical storage facilities
·         Enables a seamless link to order processing and logistics management
·         Tracks where products are stocked, which suppliers they come from, and the length of time they are stored
To further differentiate WMS solution from other systems, here are more specific functions of most WMS.
 
  • Warehouse Design/Configuration
  • Inventory Tracking
  • Storage and Facility Management
  • Receiving and Putaway
  • Pick-and-Pack
  • Shipping
  • Labor Management
  • Yard and Dock Management
  • Reporting
  • Inventory Management
  • Order Fulfilment
  • Inbound/Outbound Logistics
  • Reverse Logistics
  • Manufacturing and Value-Added Services
 
Features
Over the years, well known WMS solution providers Accellos and Oracle have introduced numerous improvements and upgrades on their offered solutions. Accellos now offers various features that transform their software product into a hub of every organization’s supply chain solution. Their solution, AccellosOne, is an integration of accounting, order management and shipping software systems, electronic data interchange (EDI) systems, Crystal Reports software, radio frequency and barcode hardware, and warehouse automation equipment.  Oracle Warehouse Management system, on the other hand, is a component of Oracle's Supply Chain Management and Manufacturing solution. It covers the areas of warehouse resource management, warehouse configuration, task management, advanced pick methodologies, and value added services.
 
Features distinguish one solution from other solutions. They are absolutely many but once you indentified the features that are only needed for your warehouse and inventory operation, there is a greater chance that you can find the right WMS product out of the many solutions available in the market. Therefore, it is your task as a buyer to filter from this range of features those that are only needed by your business.
 
  • Asset tracking
  • Service management
  • Product identification
  • Wireless Picking and Receiving
  • Order Management
  • Lots/Serial/Expiry Management
  • Kitting
  • Container Receiving
  • License Plates
  • Carton Splitting
  • Putaway/Slotting
  • Multi-Location/Site Transfer
  • Return Material Authorization
  • Packaging Carousels/Conveyors
  • Multi-Carrier Shipping Toolkit
  • RFID Toolkit
  • Wave Picking/Batch Picking/Zone Picking
  • Task Interleaving
  • Automated Data Collection
  • Integration with Automated Material Handling Equipment
  • Advanced Shipment Notifications
  • Cycle Counting
  • Cross Docking
  • Pick-to-Carton
  • Labor Tracking/Capacity Planning
  • Activity-based Costing/Billing
  • Integration with existing systems - Accounting/ERP/Ecommerce/Order Management
 
Solutions per Business Size, per Vendor
As a buyer, it is also your duty to look for a solution that can truly offer the most advanced functionality, operational features, configurable architecture, and competitive cost of ownership. Moreover, you should also act as an inquisitive buyer who is able to weigh which solution, when fully implemented and used over a certain period of time, can provide the winning results such as accurate inventory and optimized labor cost. Here are then the two types of solutions in the market for you to carefully examine.
 
Best-of-breed or Stand Alone
Best-of-breed solution offers better in-depth functionality compared to integrated suites. It offers more picking configurations, labor management features, built-in integrations with other technologies, and other warehouse-specific features.
 
Integrated Suite or Supply Chain Execution Suite
This solution can be acquired as a module of a much larger enterprise system - ERP. Meaning, aside from warehouse and inventory functionality, it is also capable of managing other aspects of business such as accounting, human resources, manufacturing, and customer management.
 
As our recommendation from ITQlick.com, consulting with experts in business application solutions is also one of the options that you can consider when you arrived at critical stage of the buying process. We have wide experience in implementing software solutions and it is our guarantee that we can help you in finding that right WMS for your business.
 
Pricing Considerations
An experienced supply chain management consultant probably has the best ideas to share when it comes to the pricing models offered by various WMS solution providers. More likely, he will discuss with you the Total Cost of Ownership (TCO). Being in the software business for years, here’s what we from ITQlick.com would like to share with you about WMS pricing which we believe can surely guide you on your TCO computing process.
 
There are three types of WMS software products: Tier 1, Tier 2 and Tier 3. Their estimated cost pricing and other characteristics are as follows.
 
Tier 1 WMS solution costs between $750,000 and $2,500,000. Most Tier 1 vendors provide mainframe or web-based applications that use an operating system. This solution usually includes features such as voice-activated technologies, radio frequency identification (RFID) tagging, wireless communications, and physical automation support.
 
Tier 2 WMS solution costs between $200,000 and $750,000. This solution is provided with mainframe applications or PC-based platforms or the combination of both. Features included in this solution are cross-dock planning, automatic wave planning, system-directed replenishment, and stock location management.
 
Tier 3 WMS solution costs between $35,000 and $200,000. Most products are designed to run on personal computers (PC) and use an operating system such as Microsoft Windows. The core feature that usually goes with this solution is a standard inventory management system (IMS) with functions such as wave picking, zone picking, cross-docking, and directed put-away.
 
Market Trends
According to surveys, the past four to five years have dramatically altered the warehouse management landscape. In search for improved efficiency and increased profitability, many companies have adopted alternative technologies that have transformed the way various warehouse operations are conducted.
 
Many companies are now using voice-directed picking hardware to determine the amount of goods to be picked up. Smartphones are also beginning to emerge into the hardware scene. Many companies have started using smartphones as data collection devices. In relation to this, solution providers say that many young IT technicians nowadays are seeking to deploy consumer-grade phones and tablets on their company warehouses.
 
Other growing demands include more value-added activities, such as building mixed pallets for specific stores or attaching item-level RFID tags to satisfy retailer requirements.
 
From these trends, we can say that the WMS solutions providers are continuously moving forward to better improve the solutions they are providing to the market. This is a go signal that a buyer like you should proceed finding the WMS solution that is just right for your business.
Finding the right Inventory Management software for your business
Proper Inventory Management software selections are the precursor to successful deployment and business growth. Finding the right Inventory Management solutions doesnít have to be complicated, and it doesnít have to take days or weeks of your time.

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Author - Shlomi Lavi

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Shlomi Lavi is an entrepreneur and founder of ITQlick.com. He holds a Bachelor of Science (B.Sc.) in Information Systems Engineering from Ben Gurion University in Israel. Shlomi brings 17 years of global IT and IS management experience as a consultant and implementation expert for small, medium and large-sized (global) companies. Shlomi’s goal is to share the best knowledge and news about information systems so you can make smarter buying decisions for your business.